Price increases and compensations for more expensive raw materials and energy were negotiated with customers, but at the same time planning remained difficult – Polytec faced enormous challenges in the past financial year. The result in 2022 was sobering: the car supplier from Hörsching posted a loss of 2.2 million euros after tax.
In 2021, the Polytec Group made a profit of seven million euros after tax, but in 2022 the situation looked different. After three quarters, the result after tax was negative, which remained after twelve months – minus 2.2 million euros.
“Be Confident”
The reasons for the development are reduced call-off quantities and repeated, short-term cancellations, as well as the very high price level for materials and in particular for energy. “We are confident”, CEO Markus Huemer emphasizes in the current annual report, “with our reorganization we have laid the foundations early on to broadly tap into the high potential for plastics applications – both in mobility and in new application areas such as energy storage and logistics”. .
Polytec has repeatedly proven in the past that it is flexible and able to respond quickly to changes in the market and even to crises. Group sales in the previous year amounted to EUR 601.4 million. This year that should grow to 650 to 700 million euros.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
